Stanhope Shepherd International Limited has proposed to build a five-star hotel and restaurant, two marinas and 18-hole golf course that it said would bring US $100 million into Barbuda’s economy.

Last month, Barbuda Council’s Deputy Chairman Fabian Jones stated the Gravenor Bay project was put “off the table” because the developers could not meet requirements set by the central government to demonstrate their financial ability to carry out the project.

However the developer of the proposed Gravenor Bay project in Barbuda later responded that he remains hopeful that the project is not completely lost.

“Our current position is, we have the approval of the (Barbuda) Council and the people of Barbuda have given their consent for this project. Now we patiently await the outcome of their negotiations with Central Government,” Adam Barrett said.

However Walker said he was firm in his position.

“The persons who come to you and have money to spend don’t have a lot of time to waste and the persons who have a lot of time don’t have no money,” he said.

“If you come to me and you want to invest monies and you want 1,000 acres of land and you are going to invest a billion dollars … you must have some credibility,” he added.